The UMEE price update as of now is $0.001826. In the previous 24 hours, its trading volume was $66,573, and its value has increased by 11.93%. As of now, UMEE's live market cap is $8,092,402, and it is ranked as the #1264 on the Coincu. UMEE has a circulating supply of 13,253,124,908 and a maximum supply of 13,253,124,908.

What is Umee?

Umee is a DeFi Hub that enables interoperability across various blockchains including Terra, Crypto.com, Binance Chain, Osmosis, Secret Network, and more than 30 others, in addition to Ethereum. Umee allows users to easily lend and borrow money on different blockchains. As a foundational DeFi protocol, Umee provides the necessary infrastructure for users and developers to access leverage and liquidity across multiple chains.

Developers can build applications on top of Umee to enable cross-chain leverage access and liquidity. Umee Blockchain facilitates interoperability between the Tendermint Proof of Stake protocol, the Cosmos ecosystem, Ethereum, side chain architecture, layer 2 scaling solutions, and alternative base layer protocols.

Unique Aspects of Umee

Foundation of DeFi Hub

Umee Blockchain is developed using Cosmos SDK and Ethereum Virtual Machine to bridge the gap between DeFi and specific lending use cases. Umee offers a flexible combination of transaction speed and efficiency utilizing a consensus protocol based on Tendermint Proof of Stake.

Merging Proof of Stake with Global Debt Market

The initial product built on top of Umee will be borrowing and lending, supporting cross-chain interoperability as well as platforms for bringing global debt into DeFi. By creating tools that enable new leverage and interest components, Umee is pioneering new markets and ecosystems within the crypto space, establishing itself as a fundamental pillar for the blockchain world.

Promoting Cross-chain Interoperability

Umee's long-term vision is to drive the development of a multi-chain world and serve as the cornerstone of the overall blockchain ecosystem. Umee leverages IBC (Inter-Blockchain Communication), the leading Cosmos protocol that facilitates cross-chain forwarding.